Ramp, a B2B BNPL provider, has raised USD 300 million in Series D funding co-led by Thrive Capital and Sands Capital, with participation from General Catalyst, Founders Fund, and others. Ramp's total funding now stands at USD 1.7 billion, with a post-money valuation of USD 5.8 billion.

The company intends to utilize the capital proceeds toward product development and expanding its team during the second half of 2023.

Currently, the platform services over 15,000 companies.

Analyst QuickTake: Within the B2B segment of the BNPL space, Ramp’s Series D funding news comes alongside Koverly’s USD 7.6 million seed funding . Similar companies such as Defacto recently raised EUR 167 million (~USD 183 million) in debt funding , with Splitit raising USD 10 million and USD 50 million in less than a month.